The Goldman Sachs Group Cuts Tandem Diabetes Care (NASDAQ:TNDM) Price Target to $24.00

Tandem Diabetes Care (NASDAQ:TNDM) had its price target decreased by The Goldman Sachs Group from $42.00 to $24.00 in a report released on Monday,Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the medical device company’s stock.

TNDM has been the topic of several other research reports. Sanford C. Bernstein cut Tandem Diabetes Care from an “outperform” rating to a “market perform” rating and cut their target price for the company from $35.00 to $25.00 in a research report on Friday, February 28th. Barclays cut their price objective on Tandem Diabetes Care from $60.00 to $53.00 and set an “overweight” rating for the company in a report on Friday, February 28th. Canaccord Genuity Group restated a “buy” rating and set a $63.00 target price on shares of Tandem Diabetes Care in a report on Wednesday, February 26th. Robert W. Baird dropped their price objective on Tandem Diabetes Care from $37.00 to $33.00 and set a “neutral” rating for the company in a report on Thursday, February 27th. Finally, Morgan Stanley upgraded Tandem Diabetes Care from an “equal weight” rating to an “overweight” rating and set a $45.00 target price for the company in a research note on Monday, December 2nd. Eight analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $45.38.

Tandem Diabetes Care Price Performance

Shares of TNDM opened at $19.11 on Monday. The business has a 50-day moving average of $33.92 and a 200-day moving average of $35.86. Tandem Diabetes Care has a 1 year low of $18.77 and a 1 year high of $53.69. The company has a market capitalization of $1.27 billion, a price-to-earnings ratio of -9.90 and a beta of 1.32. The company has a debt-to-equity ratio of 1.29, a current ratio of 2.90 and a quick ratio of 2.32.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in TNDM. Connective Capital Management LLC bought a new position in Tandem Diabetes Care in the 4th quarter worth $611,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Tandem Diabetes Care by 20.4% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 177,739 shares of the medical device company’s stock valued at $6,402,000 after acquiring an additional 30,133 shares during the last quarter. Two Sigma Investments LP raised its position in Tandem Diabetes Care by 4.4% in the 4th quarter. Two Sigma Investments LP now owns 861,188 shares of the medical device company’s stock worth $31,020,000 after purchasing an additional 36,475 shares during the period. State of Wyoming raised its position in Tandem Diabetes Care by 95.9% in the 4th quarter. State of Wyoming now owns 2,996 shares of the medical device company’s stock worth $108,000 after purchasing an additional 1,467 shares during the period. Finally, Shell Asset Management Co. increased its position in shares of Tandem Diabetes Care by 16.9% during the fourth quarter. Shell Asset Management Co. now owns 26,281 shares of the medical device company’s stock worth $947,000 after acquiring an additional 3,803 shares during the period.

Tandem Diabetes Care Company Profile

Tandem Diabetes Care, Inc, a medical device company, designs, develops, and commercializes technology solutions for people living with diabetes in the United States and internationally. The company's flagship product is the t:slim X2 insulin delivery system, a pump platform for managing insulin delivery and display continuous glucose monitoring sensor information directly on the pump home screen; and Tandem Mobi insulin pump, an automated insulin delivery system.